The Washington State Investment Board (WSIB) requests a technical correction to even out fluctuations in FTEs by Fiscal Year (FY) and to provide an additional half-time FTE to support Labor and Industries-related investment accounting work and other strategic projects.

The Washington State Investment Board (WSIB) requests funding to manage investment officer compensation increases to be granted in July 2025 and July 2026. The request will provide funding to bring the top of the investment salary ranges up to the average salaries of the WSIB’s peers consistent with RCW 43.33A.100. Approval of the request would allow the WSIB to maintain competitive wages and retain and recruit skilled investment officers. (State Investment Board Expense Acct - State)

The Washington State Investment Board (WSIB) is requesting additional staff to strengthen WSIB’s internal controls and organizational capacity by providing additional resources in key strategic areas, including internal audit, budget, risk and compliance, and global travel services. Added resources will enhance investment and operational control capabilities to support the WSIB’s objective to effectively construct and oversee premium investment portfolios for state retirement systems and other public funds. (State Investment Board Expense Acct - State)

Funding is provided for wage increases for state employees who are not represented by a union or are not under a bargaining agreement that is subject to financial feasibility determination. It is sufficient for a general wage increase of 3%, effective July 1, 2025, and a general wage increase of 2%, effective July 1, 2026. This item includes both general government and higher education workers. (State Investment Board Expense Acct - State)

This item adjusts the employer funding rate for public employee insurance benefits to reflect policy-level decision packages. It increases the rate by $8 per month in the first fiscal year and decreases the rate by $34 per month in the second fiscal year, compared to the maintenance-level update, for a total rate of $1,315 in the first year and $1,355 in the second year. (State Investment Board Expense Acct - State)

An adjustment is made for pension contribution rates, including to fund a benefit increase of 3%, up to a maximum of $110 per month for eligible Public Employees' and Teachers' Retirement Systems Plan 1 members. (State Investment Board Expense Acct - State)

An adjustment is made to the base pension rates, as set out in a proposed bill addressing the calculation of the base rate for the 2025–27 biennium, as well as amortization of Plan 1 benefit increases. (State Investment Board Expense Acct - State)

Adjustments are made for each agency's anticipated cost of audits performed by the State Auditor's Office. (State Investment Board Expense Acct - State)

Adjustments are made for each agency's anticipated cost of legal services provided by the Attorney General's Office. Because legal services expenditures are based on consumption, funding provided in the central service model is not all inclusive. The methodology to estimate consumption is a two-year average and allows for analysis to incorporate unique agency circumstances. (State Investment Board Expense Acct - State)

Adjustments are made to reflect each agency's anticipated share of charges from Washington Technology Solutions for the Office of Cybersecurity, state network, enterprise and small agency IT services, enterprise architecture and data management, Microsoft 365 licenses, and other items. (State Investment Board Expense Acct - State)

Adjustments are made to reflect each agency's anticipated share of charges from the Department of Enterprise Services for Capitol Campus costs; real estate, risk management, and small agency services; the Perry Street and Capitol Campus child care centers; enterprise applications, and other items. (State Investment Board Expense Acct - State)

Adjustments are made to reflect each agency's anticipated share of charges from the Office of Financial Management for existing statewide applications, the One Washington program, and other central services. See Chapter 11 of the 2025–27 OFM Budget Instructions for allocation methodologies. (State Investment Board Expense Acct - State)

Adjustments are made to reflect each agency's anticipated share of charges from the Office of the Governor for the Office of Equity. (State Investment Board Expense Acct - State)